McNeill Hotel Investors Acquires Home2 Suites by Hilton Mobile
Acquisition is the Third in the Past Two Months for the Company
McNeill Hotel Investors ("McNeill") announced today the acquisition of the 4-story, 105-room all-suite extended stay Home2 Suites Mobile (AL), adding to the company's growing portfolio. The announcement was made by Phillip McNeill, Jr., the company's Chief Executive Officer.
The Home2 Suites Mobile is situated on the southeast quadrant of Interstate 65 and Exit 1, at the corner of Bolling Brothers Boulevard and Satchel Paige Drive in Mobile, Alabama, and features approximately 750 square feet of meeting space, a fitness center and a relaxing outdoor pool.
"We are proud to add another Home2 Suites by Hilton to our growing hotel portfolio and in a market well known to us," McNeill said. "We have great experience working with Hilton's extended stay brands."
The hotel was strategically built within the McGowin Park retail development, which opened in 2015 and includes the Hank Aaron Stadium. It is located within ten minutes of the downtown Mobile market, is within 2 minutes of the Mobile Regional Airport and is within minutes of several museums, the Bragg-Mitchell Mansion, Gulf Coast Exploreum Science Center, and Bellingrath Gardens.
In the spring of 2018, the county of Mobile voted to proceed with the development of a 10-field soccer complex at the intersection of Interstate 10 and Interstate 65, making it a hub for regional and coastal cities to travel for games and tournaments.
"This property with its outstanding location and strong demand drivers is in excellent condition, having opened this May 2018," said Mark Ricketts, the company's President and Chief Operating Officer. "The city of Mobile is the state of Alabama's only saltwater port and is a hub for transportation, manufacturing, healthcare and history. Mobile is also home to the University of South Alabama, which has approximately 15,000 students."
The acquisition by McNeill Hotel Investors was facilitated by capital recently secured by McNeill through New York-based Almanac Realty Investors LLC.
McNeill Hotel Investors and McNeill Hotel Company now own and manage 22 select service hotels across the Southeast, the Midwest and Western States, with several additional properties in the acquisition and development pipeline.